Retirement plan

RACELOGIC USA 401(K) SAFE HARBOR PLAN

Name: RACELOGIC USA CORPORATION - RACELOGIC USA 401(K) SAFE HARBOR PLAN (2023) Form 5500
Creator: RACELOGIC USA CORPORATION
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, RACELOGIC USA 401(K) SAFE HARBOR PLAN, RACELOGIC USA CORPORATION

RACELOGIC USA CORPORATIONEIN 46-1355092Plan #001PY 2023

40000 GRAND RIVER AVE, SUITE 100 - NOVI, MI 483752133248-994-9050racelogicusa.comLinkedIn1-10 employees

Prospect flagsLow fidelity bond

How to read this page

Total assets (EOY)

$1M

+31.2% from 2022

Total participants

+8.3% from 2022

Average account balance

$79,211

+21.1% from 2022

Annual return

16.48%

+27.45 pp from 2022

Benchmarks

See 23,824 peers

Peer group

Industry42 - Wholesale Trade

Plan typeDefined contribution

Participants<25

Cohort23,824 peers

Snapshot2023

Free accounts unlock saves, downloads, and 3-year history.

Analytics

Total assets (EOY)

Plan-year ending balance

$954K

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$60K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

114.3%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$125K

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$9K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+18.28%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

0 years with F_SCH_H allocation on file

Free accounts unlock saves, downloads, and 3-year history.

Service providers

Providers data not reported

Schedule C was not filed on this plan's most recent Form 5500, so no compensated service providers are available to display.

Plan features & details

Pension benefit codes2E2F2G2J2T3D

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3D
Pre-approved pension plan
A master prototype or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

Opportunity flags

1 tripped

ComplianceLow fidelity bond
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).

Audit opinion

Schedule H Part III

No opinion code on file for this filing.

Auditor firm: (not reported)
Auditor EIN: -
Audit fees: (not subdivided)
Opinion code: -

Metric

This plan

Peer set

Industry

Size

Avg account balance

$79,211

$154,159-48.6%

$130,026-39.1%

$139,456-43.2%

Participation rate

100.0%

82.0%+18.0pp

78.5%+21.5pp

80.3%+19.7pp

Annual return

16.48%

32.50%-16.0pp

-137.26%+153.7pp

373.45%-357.0pp

Employer contribution / active EE

$4,096

$5,292-22.6%

$4,321-5.2%

$4,753-13.8%

Participant deferral / active EE

$6,409

$6,710-4.5%

$5,821+10.1%

$6,711-4.5%

Admin fee / account holder

$14,001-100.0%

$10,608-100.0%

$11,407-100.0%

RACELOGIC USA 401(K) SAFE HARBOR PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

RACELOGIC USA 401(K) SAFE HARBOR PLAN

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Audit opinion

Benchmarks

Service providers

Opportunity flags

Audit opinion